- Carro, a used car trading startup on an online platform and the first “unicorn” in the Southeast Asian automotive market. Moving forward with full force, expanding business base in Thailand, opening Carro Floor Auction, a comprehensive auction yard market Connect offline and online formats seamlessly. Adding artificial intelligence technology, AI, reinforcing the strength of transparency at every step. and can check back every item Ready to compress the car grading system of 200 points, guaranteeing excellent quality before reaching the customer.
- D-Day Soft Launch 12 Jul. Before going on 2 Aug. Continuously organized every week. It aims to attract dealers to push sales of 1,000 cars per month and increase to 3,000 cars per month by the middle of next year. Hoping to increase its share to become the leader in one-stop online platform The second-hand car auction market is worth more than 120 billion, revealing that there is a chance to grow by 7% this year.
Anop Ketchatat, Chief Executive Officer, Carro (Thailand) Co., Ltd., a startup company The second-hand car dealer on the online platform and “Unicorn”, the first in the Southeast Asian automotive market, revealed that the company is accelerating its strategy to penetrate the business in a big way. After the used car market, there are clear signs of growth. The goal is to be a leader in the service of buying and selling used cars. Integrated online platform (One-stop Shopping Place) under the new concept “click.buy.drive.” Easy to buy a car at your fingertips.
Recently, the company has invested in a new channel, Carro Floor Auction, to create a used car auction market that connects both offline and online channels. Emphasize transparency and emphasize the strength of quality for every car that has been graded before it reaches the customer.
“After this, Carro will expand its business base to cover all consumer groups in the form of an online auction platform, Carro Floor Auction, to be a new channel to accommodate a large number of incoming vehicles from financial institutions and partners. by importing into the auction Both offline and online channels go hand in hand. Answering all aspects of car sources from financial institutions Credit or corporate car It also increases the chances of dealers getting a car through the auction system that is transparent in every step and increases sales channels for car owners as well.
The Carro Floor Auction will begin with the Soft Launch round on Monday, July 12, prior to the official opening of the auction. From Monday, August 2, 2021 at 2:00 p.m. and onwards Going to hold an auction every Monday continuously every week.
in terms of procedures and methods of inviting car leaders to come to the auction Starting from the staff Carro offers the service. by being an auction agent for the owner or the company If the Carro Floor Auction is agreed upon, a contract of bidding and a custody contract will be signed. Which Carro staff will bring the car to inspect the condition of 200 points through the Inspection App for a preliminary appraisal and send the appraisal price to the seller to consider first.
When the seller approves the selling price back to the Carro Company, it will be ready to bring the car up for auction immediately. And if there is a car that ends after the auction is finished. The company will transfer the payment for the car to the seller within 5 working days and deliver the documents within 30 working days.
“The main highlight of Carro Floor Auction that is different from the general auction house market is the online auction system that uses artificial intelligence technology to enhance the whole process. From the selection of quality car grades to bid, every car will pass a 200-point condition check from experts, along with bringing that information to analyze the car’s grade clearly. The results of the inspection are displayed through the Inspection Report in order to inform the bidders for decision-making. and giving the opportunity to inspect the cars that have entered the auction by themselves Including the auction system that we use technology to help make the process transparent and can be viewed backwards every step of the way,” said Anop.
In addition, participants can participate in both offline and online auctions simultaneously. by registering before bidding along with submitting documents or evidence confirming their real existence which the company will publicize the invitation via online channels for general dealers and dealers in the Carro alliance Up-to-date information on participating cars can be viewed through the Carro Wholesale app and on-site registration is open again on the day of the auction.
The company plans to push the brand to be more known. To attract dealers to bid through online channels for more than 500 auctions per auction round. Create the most competitive price and finish high prices incentivize Finance & Leasing companies to submit more cars to auction. The goal is to attract at least 30 dealers per month to join the auction, which is built to drive sales of more than 1,000 cars per month and increase to 3,000 cars per month by the middle of 2022.
Annop also discussed the overview of the used car market. that tends to expand more both in terms of increased demand and higher trading prices. For the full year 2021, there will be sales growth of around 7% to 1.7-1.8 million units from used cars in the auction market around 250,000-300,000 cars per year, valued at around 120 billion baht, the main reason for the growth of the used car market is the Covid situation. Make people turn to buy more quality used cars. due to lower purchasing power factor and the price of a used car that is more affordable than a new car This allows consumers to control their expenses during the economic slowdown. and which some people want to have a private car To reduce the risk of infection from public transportation. Making buying a quality used car has become the choice of most people looking for a car right now.
At the same time, Carro Thailand has received positive results from such factors and has a very high growth rate. During the months of April – May the past Its turnover has risen 6 times compared to the same period last year. Therefore, it is necessary to accelerate the expansion of the customer base and attract partners who have come to support in order to push more used cars into the market. In order for bidders to choose the type of car that best suits their needs in the Carro Floor Auction channel, more cars will lead to a larger proportion of the used car market as well.